No insurer shall knowingly declare or pay any dividend whenever the insurer is impaired. For purposes of this section, "insurer" also includes any person doing the business of insurance in this state.
Ohio Rev. Code Ann. § 3999.38
Prohibiting payment of dividend when insurer is impaired
Effective: August 8, 1991; Latest Legislation: Senate Bill 137 - 119th General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.